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☆ Many digital health startups are quietly raising down rounds and closing up shop. Here's why.
▼ + stars: | 2024-11-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +9 min

Now, VCs say many digital health startups are cutting their valuations to live another day. As of mid-November, PitchBook data shows 327 digital health startups that grabbed funding in 2021 but haven't raised since. Not even the AI boom, which has brought back-to-back fundraises for hot healthcare startups like Abridge, can make up for the discrepancy. "There are more digital health companies that are selling assets, selling people, or whatever they can," said Greg Yap, a partner at Menlo Ventures. AdvertisementVCs told BI they're pushing the next generation of healthcare startups for better discipline in balancing growth with profits.

Persons: haven't, Greg Yap, Doba Parushev, CareFirst, Parushev, Jenny Chang, Rodriguez, Alyssa Jaffee, she's, that's, Ruth, Alison Greenberg, Healthworx's Parushev, Forward's, Rob Price, Axios, LetsGetChecked, Galym, Yap, cofounders Umar Afridi, Sid Viswanathan, VCs Organizations: Healthcare, Business, Menlo Ventures, Healthworx Ventures, Getty, Ruth Health, Carta, Optum Ventures, Lightspeed Ventures Partners, Omada, Walgreens, Walmart Locations: Forward's San Francisco

☆ Forward's leaders are already recruiting for a new startup, just a week after the healthcare company shut down
▼ + stars: | 2024-11-22 | by ( Rob Price | Rebecca Torrence | ) www.businessinsider.com time to read: +2 min

AdvertisementHealthcare startup Forward just closed its doors last week, but its executives are already onto their next venture. Related VideoLesser told former Forward employees that Aoun will serve as a cofounder, board member and advisor to the new startup, per the messages. It's unclear what the startup will focus on as a business or if any of Forward's previous investors will be involved in the new venture. AdvertisementIt's an ultra-quick turnaround from Forward's leaders after the startup announced on November 13 that it would immediately shutter its more than a dozen locations and lay off its nearly 200 employees. AdvertisementOn a Friday episode of The Information's More or Less podcast, Aoun said he's already hearing interest from Forward's investors to back his next venture.

Persons: Adrian Aoun, Jonathan Lesser, Bali Raghavan, Lesser, Salesforce's Marc Benioff, Raghavan didn't, —, Aoun, he's, I've Organizations: Healthcare, Bali, Business, Forward, Khosla Ventures, Softbank Locations: Silicon Valley

☆ How RFK Jr's war on obesity in the age of Ozempic could shake up the booming weight-loss industry
▼ + stars: | 2024-11-19 | by ( Rebecca Torrence | Hilary Brueck | ) www.businessinsider.com time to read: +9 min

Robert F. Kennedy Jr.'s proposed appointment to lead the US Department of Health and Human Services could have big consequences for a booming weight-loss market. AdvertisementHis likely appointment comes at a pivotal moment for the weight-loss industry, as long-lasting shortages of drugs like Ozempic come to an end. When Farmbox launched in 2014 to deliver healthy food boxes and educate consumers about nutrition, "nobody wanted to invest in us," Tyrner-Dolce said. Doug Mills-Pool/Getty ImagesKennedy's crusade against Big Food could run up against Trump's pro-corporation agenda, though. AdvertisementWeight-loss companies could get more attention — at a costKennedy's focus on holistic chronic disease care, including obesity care, could see a renewed funding rush to the space.

Persons: Trump, Robert F, Kennedy Jr, Kennedy, he's, Obama, Ashley Tyrner, Dolce, Farmbox, FarmboxRx, Michelle Obama, SAUL LOEB, Kennedy's, Jeff Nobbs, Nobbs, Doug Mills, Elon Musk, Donald Trump Jr, podcaster Joe Polish, Brooke Boyarsky Pratt, There's, Knownwell Pratt, Pratt, John Stanford Organizations: Human Services, US Department of Health, National Institutes of Health, Food and Drug Administration, Trump, Big Pharma, Senate, Novo Nordisk, Centers, Medicare, Services, Getty, Street, Department of Health, US Department of Agriculture, Shack, Business, Big Food, Trump's, KFC, McDonald's, Fox, FDA, Moderna Locations: Pennsylvania, Washington

☆ Inside AI-Healthcare Startup Forward's Demise
▼ + stars: | 2024-11-13 | by ( Rebecca Torrence | Rob Price | ) www.businessinsider.com time to read: +13 min

The healthcare startup Forward bet the future of its business on a spaceshiplike mall kiosk in Roseville, California. AdvertisementEleven former Forward employees spoke with BI before the closure on the condition of anonymity to avoid retribution from the company. Two former employees told BI that, at that time, the startup was set to run out of money in less than a year. Lea Suzuki/The San Francisco Chronicle via Getty ImagesThe CarePods came with many financial and logistical challenges, former employees told BI. Most former employees BI spoke with said they still believed in Forward's mission.

Persons: —, Elon, Adrian Aoun, Axios, Forward's, fundraise, Forward, Rob Price, Larry Page's, Aoun, Rebecca Torrence, iPads, hadn't, he'd, Lea Suzuki, CarePod, CarePods Organizations: Google, Business, Forward, Apple, San Francisco, Getty, BI Locations: Roseville , California, Roseville, Chicago, New York City, Forward's San Francisco, Forward's Washington, DC, Washington ,, San Francisco, Washington, Dallas, Bellevue , Washington, Sacramento, Chandler , Arizona, Chicago's Willis, Galleria, there's

☆ $3 billion startup Sword Health cuts some physical therapists as it ramps up AI to treat more patients
▼ + stars: | 2024-11-11 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Sword Health cut a portion of physical therapists last month, the company confirmed to BI. The startup is working to increase the number of patients its physical therapists care for using AI. AdvertisementSword Health has made cuts to its clinical workforce as the $3 billion startup seeks to manage more patients with the help of AI, Business Insider has learned. The layoffs come as Sword seeks to enable its PTs to treat more patients using AI. AdvertisementIt's not the only digital health startup waiting at the IPO gates.

Persons: —, Sword, would've, aren't, Virgilio Bento, It's, Bento, Morgan Stanley, Omada Organizations: BI, Service, Business Locations: Omada

In his last term, Trump paused some work visa programs used by tech firms to hire skilled talent. This order left many tech workers stranded outside of the US in 2017. The H-1B visa program is the nation's largest temporary work visa program, with over 600,000 workers across 50,000 employers. Vice President-elect JD Vance has a venture capital background, and Musk is an immigrant himself who has said he was on an H1-B visa previously. Shin Yi Chong, who received her H1-B visa in 2019, was recently laid off from her tech job as a product manager.

Persons: Donald Trump's, Trump, —, Donald Trump, Michael Greeley, What's, Hiba Mona Anver, Anver, Jenny Fielding, Biden, Palo, Sophie Alcorn, Anna Rathbun, Aaron Levie, Elon Musk, Levie, Elon, Alcorn, JD Vance, Anna Moneymaker, Chris Farmer, Vance, Musk, Shin Yi Chong, Shubhangi Goel, Riddhi Kanetkar Organizations: Service, Flare Capital Partners, Trump, Ventures, Hire, Experts, Business Locations: Cleveland, It's

☆ Healthcare investors are torn on Trump's second term
▼ + stars: | 2024-11-09 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +11 min

While many tech VCs are optimistic about Trump's second term, some healthcare investors feel stuck. AdvertisementThe lower corporate taxes and deregulation a second Trump term could promise are already amplifying public market optimism. She could be removed as the FTC's head early in Trump's second term — and with relaxed M&A regulations, "anything is possible," said What If Ventures founder Stephen Hays. SOPA Images/Contributor/Getty ImagesMedicaid could also be targeted in Trump's second term. A boon for healthcare AI and Medicare AdvantageTrump's victory could have a positive impact on several big areas of healthcare investment.

Persons: —, Donald Trump's, Trump, He's, he'll, Robert F, Kennedy Jr, Trump's, Michael Greeley, Rebecca Noble, Tesla, JP Morgan Chase, Maven, Omada, Sean Duffy, Lina Khan, Stephen Hays, James Leynse, VCs, Carli Sapir, Jordan Nof, Greeley, Shiv Rao, Kennedy Jr's, Chrissy Farr, Phelps, Phillips, Farr Organizations: Trump, Service, Food and Drug Administration, Centers for Disease Control, Biden, Flare Capital Partners, Getty, Healthcare, Health, Cigna, Humana . Bloomberg, Federal Trade Commission, Investors, Business, Amboy Street Ventures, Tusk Venture, Senate, Affordable, Coalition for Health, Mayo Clinic, Johns Hopkins, Microsoft, Alignment Healthcare, Scrub Locations: Trump's Florida, Tuesday's, Trump's, Boston, America

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ Chip giant Nvidia wants to bring robots to the hospital
▼ + stars: | 2024-11-04 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Nvidia wants to bring "physical AI" to hospitals, with robots for X-rays, linen delivery, and more. AdvertisementNvidia is digging deeper into healthcare — and the tech giant has big ambitions to bring AI to every part of the hospital. "This physical AI thing is coming where your whole hospital is going to turn into an AI," Powell told BI. Physical AI is getting more sophisticated for real-time surgeries, too. But Nvidia sees robots being used far beyond the operating room — including to monitor a patient for falls in their hospital room, or bring them fresh linens, Powell said.

Persons: —, Healthcare Kimberly Powell, Powell, III, Nvidia doesn't, Abridge Organizations: Nvidia, Service, Healthcare, University of Florida Health, Mayo Clinic, AP, Inc, Catalyst, Microsoft Locations: Las Vegas, Florida, Abridge, HLTH

☆ Weight loss care is leading IPO-hopeful Omada Health's latest growth surge as Ozempic boom continues
▼ + stars: | 2024-10-29 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

The startup says care for GLP-1 patients has become its most popular front door for new customers. AdvertisementLast spring, diabetes startup Omada Health said it wanted to help employers manage patients taking a blockbuster new class of weight-loss drugs. Omada Health's metabolic health program has now become the entry point for most new employers considering contracts with Omada Health, Duffy said. Launched in 2011, Omada provides virtual care for diabetes, hypertension, musculoskeletal care, and diabetes prevention, alongside obesity, to employers, health plans, and even health systems. The firm said GLP-1 drugs for obesity account for about 10% of all pharmacy spending.

Persons: —, Duffy, Omada, haven't, buzzy, Willis Towers Watson Organizations: Service, Omada Health, Business, Nordisk's Ozempic Locations: WeightWatchers, GLP

☆ Sumit Rana Is Putting GenAI to Work in More Than 100 Epic Applications
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: 1 min

Epic is the world's largest provider of software for electronic health records, serving about 40% of US hospitals, including leading institutions such as the Cleveland Clinic, Mayo Clinic, and Massachusetts General Hospital. Rana, who's worked at Epic for 26 years and now serves as its head of research and development, leads all the EHR giant's initiatives across AI — from developing algorithms that predict when a patient might develop certain conditions to summarizing doctors' notes. Rana says Epic has more than 100 generative-AI applications live or in the works. He also oversees Epic's partnerships with healthcare AI companies including Microsoft's Nuance and the startup Abridge. See Business Insider's full AI Power List

Persons: who's, Rana Organizations: Cleveland Clinic, Mayo Clinic, Massachusetts General Hospital, Rana Locations: Massachusetts

☆ Bayesian Health CEO Suchi Saria Leads Healthcare Data Revolution
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Saria, part of Business Insider's 2024 AI Power List, directs the machine learning and healthcare lab at Johns Hopkins University and is the founder and CEO of the AI startup Bayesian Health. Related storiesSaria has continued to research healthcare AI at Johns Hopkins. For her work in healthcare AI, the World Economic Forum named her a Young Global Leader in 2018. In 2022, Saria cofounded the Coalition for Health AI, which brings federal agencies and healthcare organizations to discuss best practices for using healthcare AI. She also helped the National Academy of Medicine develop its code of conduct for AI deployment, released earlier this year.

Persons: Saria, Barack Obama, Andreessen Horowitz, Oracle's Cerner, It's, Johns, She's, — she's Organizations: Johns Hopkins University, Stanford, Bayesian, Nature Medicine, Cleveland Clinic, Northwell, Johns Hopkins, Economic, Global, Coalition for Health, National Academy of Medicine

☆ Exclusive: Maven Clinic is swapping out its finance chiefs as the women's health unicorn looks ahead to an IPO
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Maven's chief financial officer has left the women's health unicorn one year after taking the role. AdvertisementMaven Clinic is swapping out its chief financial officers on the heels of a fresh funding round as the women's health startup inches closer to an IPO. Related storiesAs the highest-valued women's health startup, Maven is expected to be a candidate for the next wave of digital health IPOs. The startup's hopeful future exit would be a boon for the women's health market, which remains a small fraction of all healthcare funding. Wrapbook raised a $20 million funding round in September at a valuation of $750 million.

Persons: Maven, —, Kristina Campbell, isn't, Campbell didn't, haven't, Campbell, Wrapbook Organizations: Service, StepStone Group, Business, Sequoia Capital, Catalyst, Lux Capital, Oak HC, SEC

☆ Shiv Rao's Abridge has become the AI healthcare startup to watch
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: 1 min

Abridge has quickly become the healthcare AI startup to watch. Rao founded Abridge in 2018 to automate medical notetaking with its large language models. It's also gotten buy-in from major investors, including CVS Health Ventures and Lightspeed Venture Partners. Abridge in February announced it raised $150 million in Series C funding at an $850 million valuation. And in August, the startup got its biggest customer yet, notching a deal to provide its tech to Kaiser Permanente's clinicians.

Persons: Abridge, Rao, it's, It's, Kaiser Organizations: Sutter Health, Yale New, Yale New Haven Health, CVS Health Ventures, Lightspeed Venture Partners, Abridge Locations: Yale New Haven

☆ 'The million-dollar question of this election': Women's health startups are confronting a shifting legal landscape
▼ + stars: | 2024-10-22 | by ( Melia Russell | Rebecca Torrence | ) www.businessinsider.com time to read: +14 min

Founders of women's health startups feel doubly invested in this election, one of the closest presidential races of the century. They said another Trump victory creates uncertainty for reproductive health startups, from period trackers to online abortion clinics to embryo banks. For startup Julie, the legal status of emergency contraception is the "million dollar question of this election," said Amanda E/J Morrison. Trump's waffling on reproductive rights has put founders of women's health startups on notice. For some founders of women's health startups, this election is more than a political contest; it has ramifications for their livelihoods.

Persons: Julie, Amanda E, J Morrison, Morrison, Lily, Trump, We're, —, Kamala Harris, Trish Costello, Mika Eddy, Eddy, Samuel Corum, Jane, Roe, Wade, Hey Jane, Carli Sapir, Sapir, Donald Trump, Mark Wilson, Flo, Deena Shakir, Lauren Berson Sugarman, Berson, Alice Zheng, Zheng, Julie's, Dobbs, TikTok influencers, Julie swag, Julie Julie's, It's, Melia Russell, Rebecca Torrence Organizations: Suffolk University, Trump, Getty, Amboy Ventures, White, Lux Capital, Maven, Sciences, Vitra Labs, Investors, Walmart, JAMA, Business Locations: New York, Boston, Texas, California, we're, Roe America, Alabama

☆ 2025 could bring a wave of healthcare IPOs. Here's what startups should know, according to a top banker.
▼ + stars: | 2024-10-18 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

The healthcare market looks nearly ready for the next wave of IPOs. But the next wave of public healthcare companies looks to be on the horizon. At least two healthcare companies are considering public-market debuts in the not-so-distant future. SVB SecuritiesI spoke with him about what the next wave of healthcare IPOs could bring — and which healthcare startups are in the best position to test the public markets. What models do you expect the healthcare market to favor in this next round of IPOs?

Persons: Jon Swope, —, It's, Health confidentially, haven't, there's, Waystar, healthtech Organizations: Barclays, Service, Health, healthtech, SVB Securities, Accolade, Healthcare, Walmart, Big Tech Locations: IPOs, healthtech, Waystar

☆ Exclusive: The cofounder of GroupMe and Splice is taking on the $180 billion supplement industry with new startup SuppCo
▼ + stars: | 2024-10-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Steve Martocci, cofounder of GroupMe, Blade, and Splice, is back with a new consumer health app. His startup, SuppCo, helps people find trusted supplements and track their health progress. The startup, called SuppCo, just raised a $5.5 million seed round co-led by Union Square Ventures and True Ventures, and including BoxGroup and Compound. SuppCoBuilding consumer trustMartocci first started taking supplements after GroupMe sold to Skype, when he was struggling with his health and weight. He clarified that SuppCo will never sell its users' data, and won't rely on ad revenue or notch partnerships with supplement companies.

Persons: Steve Martocci, —, Martocci, he's, Martocci's, she'd, Nick Michlewicz, Bryan Johnson, Joe, Adam D'Augelli, GroupMe, SuppCo's, Michlewicz, SuppCo, Nick Michlewicz's, what's, Andy Weissman Organizations: Union Square Ventures, True Ventures, Service, East, TechCrunch, Skype, Square Ventures, Ventures, Food and Drug Administration Locations: New York

☆ Suki just raised $70 million for its healthcare AI assistant to beat out rival Abridge. See the 17-slide pitch deck it used.
▼ + stars: | 2024-10-10 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Suki just raised $70 million in Series D funding led by Hedosophia for its medical AI assistant. It's competing with hot startups like Abridge as VCs scramble to place their bets in healthcare AI. The startup just landed a $70 million Series D round led by Hedosophia, a secretive UK-based VC firm led by Ian Osborne. Suki's biggest competitor is healthcare AI startup Abridge, which raised a $150 million Series C at a $850 million valuation in February and is backed by big names like Lightspeed Venture Partners and CVS Health Ventures. Here's the pitch deck Suki used to raise $70 million from Hedosophia.

Persons: Suki, Hedosophia, —, Punit Singh Soni, It's, Ian Osborne, transcribes, Kleiner Perkins, Abridge, Soni, EHR, he's Organizations: Service, Flare, Breyer Capital, InHealth Ventures, Fund, Suki's, Lightspeed Venture Partners, CVS Health Ventures, Veterans Health Administration Locations: Abridge, Hedosophia

☆ Exclusive: Diabetes startup Omada Health has confidentially filed its S-1 to go public
▼ + stars: | 2024-10-02 | by ( Rebecca Torrence | Ben Bergman | ) www.businessinsider.com time to read: +4 min

Diabetes startup Omada Health has confidentially filed its S-1 for an IPO, BI has learned. Fellow healthcare startup Hinge Health has hired banks as it prepares to confidentially file its S-1. AdvertisementRumors about diabetes startup Omada Health's public market debut have been swirling for years. Omada Health confidentially filed its S-1 this summer to go public, according to one person with knowledge of the transaction. After 20 healthcare startups went public in 2021, only one healthcare company went public the following year — Akili Interactive, which sold for $34 million this July.

Persons: —, Health confidentially, It's, Sean Duffy, Morgan Stanley, Cameron Lester, Ben Narasin, Duffy, Omada Organizations: BI, Service, Health, Lyra, Tempus, Jefferies, Venture, Amazon

☆ Exclusive: Health startup Roon is raising $15 million from Sequoia to replace 'Dr. Google'
▼ + stars: | 2024-10-01 | by ( Sri Muppidi | Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Health startup Roon is raising $15 million at a $65 million pre-money valuation, BI has learned. AdvertisementHealth information site Roon is raising a new funding round, Business Insider has learned. Roon aims to replace "Dr. Google" with its website and app for consumers to ask their health questions and get expert answers. The company provides accessible medical information to users and partners with trained medical professionals to answer specific medical questions about users' health journeys. Related storiesToday, expert health information isn't always easy to find with a simple Google search.

Persons: —, Roon, Vikram Bhaskaran, Arun Ranganathan, Rohan Ramakrishna, OpenAI's, Bhaskaran Organizations: Service, Sequoia Capital, SV Angel, Union Square Ventures Locations: Sequoia

☆ Physical therapy startup Hinge Health hires Morgan Stanley as it prepares to confidentially file its S-1
▼ + stars: | 2024-09-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

Hinge Health has hired banks, with Morgan Stanley leading, for its IPO push, BI has learned. The startup is gearing up to confidentially file its S-1 in the coming weeks. $6.2 billion Hinge Health hopes to go public in early 2025. AdvertisementHealthcare startup Hinge Health has hired several investment banks as it prepares to confidentially file its S-1 to go public, Business Insider has learned. The physical therapy startup has hired Morgan Stanley to lead the deal, alongside Barclays and Bank of America, according to documents seen by BI.

Persons: Morgan Stanley, — Organizations: Service, Business, Barclays, Bank of America, SEC

☆ Venture capitalist Deena Shakir just wrote a children's book to empower aspiring female founders
▼ + stars: | 2024-09-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

But when it came to finding a publisher for her children's book, "Leena Mo, CEO," she found herself in the hot seat. Now "Leena Mo, CEO," finally has a place on bookshelves. AdvertisementShakir's children's book, "Leena Mo, CEO," releases September 24, 2024. Deena ShakirWriting the female founder's storyShakir wrote the entire first draft of "Leena Mo, CEO" one frenzied weekend in December 2020. "Leena Mo, CEO" is also peppered with Arabic words — like the robot's name, "Helmy," a Romanized derivation of the Arabic word for "my dream."

Persons: —, Deena Shakir, Leena Mo, Shakir, Simon & Schuster, Chelsea Clinton, Sheryl Sandburg, Everly Health —, that's, Leena Mo's, Deena Shakir Shakir, she's, she'd Organizations: Service, Simon &, Business, Maven Clinic, Everly Health, Google Locations: Muslim

A San Francisco venture firm developed a proprietary model it calls "moneyball for venture capital." The firm is revealing 19 exceptional female investors with a keen eye for identifying future unicorns. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It developed a proprietary model it calls "Moneyball for venture capital" that uses AI to predict which early-stage startups are most likely to become unicorns, which are companies valued at more than a billion dollars.

Persons: —, Fred Campbell, Joseph Aaron, Scott Pyne, Steve Marek, Dick Fredericks Organizations: US, Service, Business Locations: San Francisco

☆ Exclusive: Healthcare AI startup Tennr is raising fresh cash from Lightspeed Venture Partners just months after its A16z-led Series A
▼ + stars: | 2024-09-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Read previewTennr, an A16z-backed startup using AI to replace faxes in healthcare, is raising a Series B round just seven months after its Series A. The startup is grabbing fresh cash from Lightspeed Venture Partners, according to two people with knowledge of the efforts. Those two people said Lightspeed preempted the fundraising efforts, approaching Tennr before the startup set out to raise more money. AI startups like Perplexity and Groq are reportedly tacking on more funding right now after closing big deals earlier this year. Some investors are taking the same approach with healthcare AI startups.

Persons: —, Tennr, Andreessen Horowitz, clamor, Forbes Organizations: Service, Lightspeed Venture Partners, Lightspeed, Business, Menlo Ventures, A16z Locations: Tennr, A16z . New York

☆ A General Catalyst-backed startup is mass-buying virtual care tech from big players like Walmart. Here's why Fabric is still betting on telehealth.
▼ + stars: | 2024-09-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Read previewHealthtech startup Fabric launched out of stealth in March 2023 to help patients get care faster and automate administrative work for providers. In June, Fabric bought Walmart's virtual care business, MeMD, after the retailer announced it would shutter its 51 health clinics. MeMD was Fabric's third acquisition — the startup previously bought asynchronous virtual care platform Zipnosis from Bright Health, as well as generative AI startup Gyant. The startup has acquired TeamHealth VirtualCare, the virtual care business inside giant physician practice group TeamHealth, Business Insider has learned exclusively. While virtual care saw a tsunami of VC interest during the pandemic, investors and healthcare companies alike are now pulling back.

Persons: —, it's, MeMD, TeamHealth VirtualCare, UnitedHealth Group's Optum, Aniq Rahman, Rahman, we've, Hemant Taneja, Commure, We've, Moat Organizations: Service, Fabric, Bright Health, Business, Google Ventures, Salesforce Ventures, General Catalyst, Bright, Walmart, Vast Ventures, Oracle Locations: Florence

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